The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Quantitative Systematic Strategies LLC

Quantitative Systematic Strategies LLC decreased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 58.9% in the 3rd quarter, Holdings Channel reports. The firm owned 7,497 shares of the bank’s stock after selling 10,735 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in The Bank of New York Mellon were worth $257,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BK. Campbell Wealth Management purchased a new position in The Bank of New York Mellon during the 2nd quarter valued at about $31,000. Lloyd Advisory Services LLC. purchased a new position in The Bank of New York Mellon during the 2nd quarter valued at about $31,000. Balentine LLC increased its holdings in The Bank of New York Mellon by 60.3% during the 2nd quarter. Balentine LLC now owns 880 shares of the bank’s stock valued at $34,000 after acquiring an additional 331 shares in the last quarter. Berman Capital Advisors LLC increased its holdings in The Bank of New York Mellon by 32.5% during the 2nd quarter. Berman Capital Advisors LLC now owns 1,297 shares of the bank’s stock valued at $50,000 after acquiring an additional 318 shares in the last quarter. Finally, First Command Bank increased its holdings in The Bank of New York Mellon by 378.8% during the 3rd quarter. First Command Bank now owns 1,719 shares of the bank’s stock valued at $59,000 after acquiring an additional 1,360 shares in the last quarter. Hedge funds and other institutional investors own 76.73% of the company’s stock.

Shares of NYSE:BK opened at $37.88 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $36.75 and a 200 day simple moving average of $36.69. The firm has a market cap of $33.57 billion, a PE ratio of 8.31, a price-to-earnings-growth ratio of 1.26 and a beta of 1.03. The Bank of New York Mellon Co. has a 12-month low of $26.40 and a 12-month high of $51.60.

The Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 16th. The bank reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. The Bank of New York Mellon had a net margin of 23.09% and a return on equity of 9.89%. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities research analysts forecast that The Bank of New York Mellon Co. will post 3.95 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 10th. Shareholders of record on Wednesday, October 28th were paid a dividend of $0.31 per share. The ex-dividend date was Tuesday, October 27th. This represents a $1.24 annualized dividend and a yield of 3.27%. The Bank of New York Mellon’s payout ratio is 30.85%.

Several equities analysts have weighed in on BK shares. Bank of America downgraded shares of The Bank of New York Mellon from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $42.00 to $39.00 in a report on Friday. Keefe, Bruyette & Woods downgraded shares of The Bank of New York Mellon from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $47.00 to $43.00 in a report on Wednesday. Morgan Stanley downgraded shares of The Bank of New York Mellon from a “buy” rating to a “neutral” rating in a report on Tuesday, November 10th. They noted that the move was a valuation call. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded shares of The Bank of New York Mellon from a “buy” rating to a “neutral” rating in a report on Tuesday, November 10th. Finally, UBS Group lowered their price target on shares of The Bank of New York Mellon from $43.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The Bank of New York Mellon presently has a consensus rating of “Hold” and a consensus target price of $44.56.

About The Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services to in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. The Investment Service segment offers custody, accounting, exchange-traded funds services, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, brokerage and data analytics, clearing, trading, investment, wealth and retirement solutions, technology and enterprise data management, corporate trust, depositary receipts, payments, receivables processing and payables management, trade finance and processing, and collateral management services.

Recommended Story: What are trading strategies for the 52-week high/low?

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Bank of New York Mellon Co. (NYSE:BK).

Institutional Ownership by Quarter for The Bank of New York Mellon (NYSE:BK)

Receive News & Ratings for The Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.